Risk Management

Risk Management

Contents
INTRODUCTION...........................................................................................................................3
PART A...........................................................................................................................................3
PART B............................................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Risk management seems to be risk analysis, assessment and resource allocation accompanied by includes the level use of funds to
reduce, coordinate and manage the likelihood of terrible circumstances or to generate potential profitable results in future (Carvalho
and Rabechini Junior, 2015). In this report, risk register or table detailing all the risk which can impact trip to Uganda and risk
legend/scale is also prepared to show the risk be more explicit. In next part importance of risk register is also discussed in the context
of following risk.
PART A
Risk register table
Risks
descriptio
n
Likeliho
od
Impac
t
Rati
ng
Mitigations Likelih
ood
Imp
act
Ratin
g
Contingency Plans Status Owner
Finan
cial
F1 Insufficien
t funding
for
unanticipa
ted
expenditur
es
1 2 2 A few little
sums of money
are secured for
confronting
unexpected
costs
3 2 2 Charity programme for
students to develop
their skills and fund the
project
Action to be
agreed
Project team
F2 Preparatio 3 1 2 Effective cash 2 1 2 Avoid spending money Action in Finance

n of
budget
could
overrun in
practical
field of
trip
programm
e
flow analysis for unnecessary items.
Try to save money by
using discounts.
progress director
Risks
descriptio
n
Likeliho
od
Impac
t
Rati
ng
Mitigations Likelih
ood
Imp
act
Ratin
g
Contingency Plans Status Owner
Opera
tional
O1 Missing a
departure
or pick up
time
4 3 3 Make sure all
trip members
are aware with
date of the trip,
pick up time
and departure
time. Everyone
will receive
1 2 2 Communicate about
standards and
expectations. Make sure
all members of the trip
have excellent time
management skills.
Actions in
process
Team leader